New Previews
Calendar Feature - Allows to schedule and arrange meetings with brokers, and handlers! The Error on the side is not going to be their, we haven't finished the full script for that yet.
User Dashboard - The main front for all users
After about 16 hours of straight work, recalculations and trial runs, the new algorithms and method has been instated. We have had about 6 hours of successful simulations with accurate data. So its with much happiness to announce that we are back on track, and should only be delayed a few days. New release date is 3/15/2012
How release will work:
Handlers Release: Today, our handlers staff will be allowed to register and start using the handler interface.
Brokers Release: 3/12/2012, our brokers staff will be allowed to register and start using the broker interface.
Public Preview Release: 3/13/2012, the URL will be released yet registration will remain disabled for all users. You can tour the interface.
Public Simulation:
3/14/2012, the site will be put active and simulating results on the cron job. We have already had successful test and trail runs, so everything is working perfectly on our new algorithms. You can just see with simulated results how the prices fluctuate, and see the system in full action!
Public Release: 3/15/2012, registration will be enabled for users and companies. Businesses can not be created yet, only simulation businesses will exist for the public challenge!
Public Challenge 'Fool the System': starts on 3/16/2012, Will last for one week, and involves users attempting to fool the system, spoof the system, abuse the system and anything else (legal ofc no hacking)
The "new" system method:
If your unfamiliar with stock markets IRL, they work on the concept of "trading" stocks with individuals, rather company <> user trade. Of course the start will be users purchasing up corporate stocks then either holding for a while or selling to other individuals for an asking price.
Lets say I own 100 stocks in x company, the current stock price is $12 ARD and I paid $11 ARD, I want to make a bit extra so I contact a broker and inform them I want to sell 50 shares of X company and my asking price is $13 ARD per share. The broker then inserts this data into the system.
Lets continue to say a buyer is interested in x company, and wants to buy. He then contacts a broker and says I want to buy 50 shares of x company. He can either ask the broker to get current "asking rates" so you can get a quick deal, or he can choose to enter his own bid rate. Lets say he chooses to see the asking rates, the broker will inform him a seller is offering 50 shares in x company for $13 ARD per share. He decides to accept the offer, and the broker inserts the bid price into the system and waits (up to 15 minuets).
Every 15 minuets, the system checks all the bids/asking prices against each other. In the event that their is a match, the first (in queue) will be awarded the deal and is accepted by the system. The new price is determined by an algorithmic math depending on if the price is higher than it is current, and by how much will cause the stock to rise in a linear form, and vise-versa, if the stock is less than current price, and again depending by how much a formula is ran against it to determine the new stock price.
Once the deal is accepted it is placed in to the handlers dashboard, in this time a handler has to accept the job. We choose not to assign it to a handler, as this can create problems if the handler goes in-active for a period of time. Once a handler accepts it, he can only collect, and transfer money to the names directed on his dashboard. So make sure your in-game name is always exact. Even a clan tag off or letter off, he is not permitted to transfer the funds.
The brokerage and handler fees are split between the buyer and seller as such:
Buyer Pays: ((sharePrice * shareAmount) * .15) + (sharePrice * shareAmount) or just simply, the total price + 15%.
Seller Gets: ((sharePrice * shareAmount) * .15) - (sharePrice * shareAmount) or just simply, the total price - 15%.
10% is given to each broker, and 10% to the handler.
This is automatically calculated and is also in the directions of the handlers dashboard.
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